Chubb beats on earnings as P&C underwriting income climbs 11.7% to $1.46bnChubb reported third quarter earnings that included a P&C combined ratio that improved 70 basis points (bps) to 87.7 percent despite higher cat losses that included a $250mn loss pick for Hurricane Helene, as CEO Evan Greenberg revealed property and casualty pricing remained ahead of loss-cost inflation.
Baloise to sell digital P&C insurer Friday to AllianzBaloise Holding has announced the sale of its portfolio holdings in digital P&C insurer Friday, one month after Swedish activist investor Cevian Capital disclosed a stake in the Swiss group.
Coalition enters UK cyber partnership with The HartfordCyber insurer Coalition has entered a new long-term capacity partnership with The Hartford in the UK.
Scor Ventures pauses new investments with management outsourced to RedstoneScor Ventures’ management is being outsourced to European venture firm Redstone, with head Will Thorne and his team set to exit the business after Scor decided to halt new investments moving forward, The Insurer can reveal.
Norway’s Protector posts 83.2% CR in Q3 as profit jumpsShares in Protector Forsikring leapt 7 percent in trading on Thursday after the Norwegian insurer reported 22 percent growth in gross written premium for the third quarter of 2024 along with an 8.4 percentage point improvement in its combined ratio.
Fortegra adds Bridgehaven’s Mangion as CFO for UK and Euro operationThe Fortegra Group has bolstered its expansive international operations with the hire of Richard Mangion from Bridgehaven Insurance for the newly created role of CFO for its UK and European business.
CRC hires trio from JM Wilson, B&W and HinterlandWholesaler CRC Group has added Cory Gibson, Clark Miller, and Andrew Perez to its offices in Tampa, Dallas, and Denver, respectively.
Gallagher Re’s Braney: cyber reinsurers increasingly attracted to international cyber but “imaginative” approach to risk requiredCyber reinsurers are increasingly looking to deploy capacity into developing international markets at a time of moderate rate softening in North America and Europe, according to Gallagher Re’s Jennifer Braney, who called for carriers to take a more “imaginative” approach to risk appetite and solutions.
Romanian nat cat pool turns to Moody’s for earthquake offeringRomanian natural hazards (re)insurance pool Pool-ul de AsigurareÎ mpotriva Dezastrelor Naturale (PAID) has partnered with Moody’s to help the organisation better model and manage earthquake risk.
UK home insurers expected to remain in the red following loss-making 2023UK home insurers remained in the red in 2023, only marginally improving on record losses in 2022, with the market segment predicted to remain trading unprofitability this year and into next, according to new data from EY.
Munich Re to exceed FY profit target but set for consensus miss in Q3Munich Re expects to report a net profit of around €900mn ($974mn) for the third quarter when it announces its quarterly results on 7 November.
Gjensidige Q3 CR improves to 83.9% as pre-tax profit beats consensusNorwegian insurer Gjensidige has reported an 83.9 percent combined ratio for the third quarter of 2024, a 3.5 percentage point improvement on the prior-year period.
Travelers Europe names Clifford Syndicate 5000 active underwriterTravelers Europe has appointed Mark Clifford as active underwriter for Syndicate 5000 and vice president for business insurance specialty.
European reinsurers take hardline stance on 1.1 renewalsMunich Re and Hannover Re have both sent a clear message to European cedants that they have no intention of softening their stance at the upcoming 1.1 renewals, with recent loss creep in the region meaning further adjustments to pricing and terms are likely.
Perils trims Babet-Aline industry loss to €639mn in final estimateLoss aggregator Perils has disclosed a fourth and final industry loss estimate of €639mn ($691.7mn) for the floods and storms caused by low-pressure systems Babet and Aline, which impacted the UK and northwestern Europe between 18 and 22 October 2023.
Differentiation key to maintaining relevance in softening fac reinsurance marketNick Fraccalvieri, CEO of Aon’s EMEA facultative reinsurance business, shares his observations on what is driving facultative purchasing, the underlying market conditions and how Aon is remaining at the forefront of increased competition.
The outlook for Europe’s cyber insurance marketGuy Carpenter’s global co-head of cyber Anthony Cordonnier examines the state of the European cyber insurance market.
Swiss Re’s Berger calls for improved data exchange to help tackle loss creep concernsSwiss Re CEO Andreas Berger has issued a rallying cry for the (re)insurance sector to forge ahead with the exchange of risk data and information, while reiterating a call for the industry to address loss creep.
Munich Re takes hardline stance on 1.1 renewals with further adjustments needed to address loss creepMunich Re has issued a stark warning to brokers and cedants that it is “unwilling to be challenged” on wordings, price and attachment points at the 1.1 renewals, with the reinsurer adding that further adjustments will be needed for some exposures to address loss creep.
Cyber, geopolitical and climate threats dominate risk manager concerns: Ferma global surveyCyber attacks represent the top threat risk managers are concerned about in the short term, according to the first global survey from the Federation of European Risk Management Associations (Ferma).